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AUDUSD May Have Found Bottom after Test of 9/13 Low

AUDUSD May Have Found Bottom after Test of 9/13 Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, AUDUSD May Have Found Bottom after Test of 9/13 Low

Prepared by Jamie Saettele, CMT

“The AUDUSD registered a near term top with the tag of the August high at 10612. Friday’s rally has nearly been retraced but additional upside is favored as long as price is above 10321. The 61.8% extension of 9580-10613 / 10165 is an objective at 10804.” A low may be in place following the dip under the 9/13 low. I’m long and plan to tighten the stop if price trades above 10485 (follow @JamieSaettele on Twitter for alerts).

LEVELS: 10320 10367 10400 10485 10550 10624

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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